Time Warner (TWX): Cutting Estimates Ahead Of Earnings

October 12, 2016 9:51 AM EDT
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Price: $94.55 +0.61%

Rating Summary:
    26 Buy, 19 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 18 | New: 19
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Needham & Company analyst, Laura Martin, reiterated her Hold rating on shares of Time Warner (NYSE: TWX) and cut estimates ahead of earnings.

3Q16 estimates for TWX go to $7.016B in revenue (up 7% y/y and 2% below previous estimates), Adjusted Operating Income of $1.932B (up 5% y/y and 3% below previous estimates), and Adjusted EPS of $1.35 (up 8% y/y and 3% below previous estimates).

The earnings revisions relate to: (i) lower sub growth at HBO to reflect 1H16 growth rates and higher than previously estimated programming and other expenses at HBO; (ii) lower than previously estimated expenses at Turner; and (iii) difficult comparisons at Warner Brothers with 3Q15, which included TV and videogames syndication revenue.

The analyst does not have a published price target.

For an analyst ratings summary and ratings history on Time Warner click here. For more ratings news on Time Warner click here.

Shares of Time Warner closed at $78.57 yesterday.



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